💨 Abstract

Amazon reported better-than-expected Q3 profits due to strong retail sales, faster shipping times, and lower-cost items. The company expects a successful holiday season and is investing heavily in AI development. However, AWS revenue growth was slower than expected, and the company faced increased competition from retailers like Shein and Temu, as well as cloud competitors Microsoft and Google.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖